KY's unemployment rate increases in April

Adjust Comment Print

The state's unemployment rate has edged up for a fifth consecutive month.

Job gains and losses are estimates based on a survey by the U.S. Bureau of Labor Statistics.

The professional and business services sector sustained the most losses, with a decline of 3,000 positions. "New claims for unemployment insurance, a measure of new layoffs, dropped to the lowest level we've seen in almost 19 years".

The Massachusetts unemployment rate remains lower than the national rate of 4.4 percent in April.

"Georgia continues to be a national leader in over-the-year job growth, as our employers added 113,600 jobs since April of last year", Butler continued.

However, all of the increase in job numbers came from part-time employment which soared 49,000 while full-time employment fell by 11,600, the data showed. "Our workforce agencies remain focused on closing the skills gap and ensuring that those newly entering the job market have the training necessary to access employment opportunities".

The federal unemployment rate in March was 4.4 percent. There were 300 more unemployed persons over the year compared to April 2016. An earlier report had pegged joblessness at a fiveyear high of 5% in 2015, and under-employment at a staggering 35% of the over-15 years labour force. Construction and the hospitality/food sectors showed loss of jobs, the most serious ones, amounting to a dip of almost 7%, is in construction. The decline was due to the creation of more than 37,000 new jobs.

Education and health services faced the biggest reduction in April, losing 1,200 jobs.

Construction with 13,700 new jobs. Most of the decrease from March 2017 to April 2017 was in durable manufacturing, which accounted for 2,500 of the 2,900 decrease in manufacturing.

The 37,400-strong jump in jobs boosted the Australian dollar AUD=D4 which rose a third of a US cent to a two-week high. The U-6 rate considers not only the unemployed population in the official U-3 unemployment rate, but also "the underemployed and those not looking but wanting a job".

Comments